Vulcan-backed BiPar Sold to Sanofi

Xconomy Seattle — 

BiPar Sciences, a Brisbane, CA-based developer of cancer drugs, said today it agreed to be acquired by Paris-based Sanofi-Aventis in a deal that could be worth as much as $500 million if the company’s lead drug candidate reaches certain milestones in development. Paul Allen’s Vulcan Capital led a $13 million Series A round in BiPar in 2004. The company is developing PARP inhibitors, which are thought to interrupt signals that allow cancer cells to rapidly proliferate.